New Street Research - America Movil S.A.B. de C.V. ADS (AMX) New Street: AMX Q3s Quick Take - Revenue recovery, buy-back already moving up

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New Street Research

Soomit Datta

New Street: AMX Q3s Quick Take - Revenue recovery, buy-back already moving up

AMX reported Q3s after close. Group service revenue recovered to 5.4% y/y in Q3 from 0.8% y/y in Q2 with most markets showing better trends.

21/10/2020 9 EN

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America Movil S.A.B. de C.V. ADS

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US02364W1053 New York Stock Exchange Mexico

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New Street Research

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Analysts

Soomit Datta

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New Street: AMX Q3s Quick Take - Revenue recovery, buy-back already moving up

AMX (Buy, TP: $24, +40%) AMX - Q1 24: Accelerating revenue and EBITDA trends

AMX (Buy, TP: $24, +30%) America Movil - Capex driving FCF inflection; FY model update

AMX (Buy, TP: $24, +40%) AMX - Solid underlying Q4s, messy Argentina adjustments

Tele2 (Neutral, TP: SEK 110, +13%) Q1 24: A good start to the European Telco Q1 24 earnings season

TSMC 1Q24: Auto cycle hits; leading-edge demand remains strong

WISE (Neutral, TP: £8.30, +0%) WISE FY 24 update: Where did the Cross-border volume growth go?

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